Among those currently scheduled to release results next week:
25-May |
|---|
No FTSE 350 Reporters |
26-May | |
|---|---|
Atalaya Mining Copper | Q1 Results |
Kingfisher | Q1 Trading Statement |
27-May | |
|---|---|
Greencore | Half Year Results |
HICL Infrastructure | Full Year Results |
Hollywood Bowl | Half Year Results |
Pets at Home | Full Year Results |
Salesforce* | Q1 Results |
28-May | |
|---|---|
Johnson Matthey | Full Year Results |
SSE* | Full Year Results |
Vesuvius | Q1 Trading Statement |
29-May |
|---|
No FTSE 350 Reporters |
Can Salesforce shake the negative sentiment?
Salesforce reports first-quarter results next week, and the focus will be less on whether the headline numbers are respectable and more on whether management can give investors confidence that growth is ready to pick up again. The last quarter was solid enough, with revenue and profit broadly in line with expectations, but guidance raised some questions. Full-year revenue guidance implies 10-11% growth, though around three percentage points of that comes from the recently acquired Informatica business.
AI remains the key swing factor. Agentforce and Data Cloud are growing quickly from a small base, but the bigger Salesforce machine is still being held back by softer growth in parts of the core business. It’s probably still too early to materially alter the ‘software is dead’ narrative that’s been swirling around Salesforce for months. Still, at the very least, investors should be hoping for more confidence around the expected second-half acceleration, because without that, Salesforce risks looking more like a mature software business than a re-energised growth story.
SSE is charging ahead with its investment spending
SSE heads into next week’s full-year results with investment across the business ramping up as expected, driven by around a 60% rise across its Networks division as it builds out its infrastructure to cope with rising demand. Alongside higher allowed revenues from the regulator, the group’s earnings per share outlook was raised to between 147-152p.
Looking ahead, the infrastructure build-out is set to continue, with £33bn of investment planned over the five years to 2030. With a portion of the group’s revenues linked to the value of its asset base, markets are expecting revenues to grow by around 10% next year to £11.4bn. SSE looks relatively immune to the effects of the Middle East conflict, with a good chunk of its revenues positively linked to inflation, providing a natural hedge. Alongside tight cost controls, earnings per share look set to grow at a faster pace of nearly 24% to 184p next year.
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